Karachi: Gold prices in Pakistan recorded a significant increase on Tuesday as the local bullion market followed rising international trends amid ongoing global economic and geopolitical uncertainty.
Gold Rates See Major Increase
According to Beyond Time News, the price of 24-karat gold per tola increased by Rs 4,100, reaching Rs 492,462 compared to Rs 488,362 in the previous trading session.
Similarly, the price of 10 grams of 24-karat gold rose by Rs 3,515 to Rs 422,206, while 22-karat gold climbed to Rs 387,036 per 10 grams.
International Gold Market Trends
In the global market, gold prices increased by $41 per ounce, settling at $4,701 compared to $4,660 previously.
Market analysts linked the rise in bullion prices to ongoing geopolitical tensions, particularly developments involving the United States and Iran, along with broader economic uncertainty in global markets.
Gold prices fall in Pakistan amid global volatility
Silver Prices Also Move Higher
Silver prices also witnessed a sharp increase in both local and international markets.
The price of silver per tola rose by Rs 395 to Rs 8,908, while 10 grams of silver increased to Rs 7,637.
In the international market, silver prices climbed by $3.95 per ounce to $84.24.
Why Investors Are Turning to Gold
Analysts said gold continues to attract investors as a reliable safe-haven asset during periods of economic instability and geopolitical tension.
They added that gold remains popular due to its long-term value, limited supply, and ability to act as a hedge against inflation, currency depreciation, and market volatility.
